David Frum

@davidfrum ↗

Deleted No

Hibernated No

Last Checked May 20, 2022

Created

Fri May 13 03:07:17 +0000 2022

Likes

649

Retweets

107

Source

TweetDeck

View Raw Data

JSON Data

View on Twitter

Likely Available

David Frum @davidfrum

Bitcoin was advertised as a safe store of value in an inflationary crunch. We're testing that theory now, and it's proving utterly false. So what on earth is the point of bitcoin? It's like a macaroni umbrella: hold it over your head when it rains and it turns into a soggy mess. — PolitiTweet.org

Posted May 13, 2022

Preceded By

David Frum @davidfrum

Today's Bitcoin value of ~$29,000 is still almost triple its value pre-pandemic. The surge since 2019 seems mostly due to boredom, cheap money, and apocalyptic thinking. Which suggests: Bitcoin's not hit bottom yet. — PolitiTweet.org

Posted May 13, 2022

Followed By

David Frum @davidfrum

I'm not denying that blockchain technology may prove useful in financial architecture. But owning bitcoin is not an investment in that architecture, it's just a speculative bet for which the architecture serves as a rhetorical justification. — PolitiTweet.org

Posted May 13, 2022